Business Administrator, Denies Orange
Budget Gap!
Orange City Business Administrator, Jewel Thompson-Chin is
misleading the citizens of
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Star-Ledger
Sunday, November 16, 2008
BY KEVIN C. DILWORTH
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Despite comments to the contrary, "the introduced budget does not have a
budget shortfall or deficit," Thompson Chin said. "The budget
indicates that the city anticipates using surplus, in the amount of $2.6
million, in the budget. This represents dollars that are available as revenue,
which do not have to be raised as additional property taxes."
Meyer (Chairman, Citizen Budget Advisory
Committee) insists a $5.3 million budget
deficit is projected for 2008-09, and data supplied by city officials shows
there will be a $6 million budget projected deficit in 2009-10, and a $6.3
million deficit in 2010-11.
Thompson Chin reiterated that none of
what Meyer, Wilson and others are saying, about projected budget gaps, is
true.”
"The city must introduce a balance budget by law, so there are no deficits
anticipated in future years," Thompson Chin said.
Orange City Business Administrator, Jewel Thompson-Chin’s quibbling with terminology makes one wonder if the Business Administrator is incompetent, insensitive, or both.
"Surplus", as used by Jewel, is an accounting term
to label unspent or unallocated reserve funds, and is not an excess of revenue
as she might lead you to believe. Moreover, the "surplus" of $2.6
million she talked about is already accounted for in the proposed budget’s Anticipated Revenues. Not including the
"surplus" would result in the Amount to be Raised by Taxes to
increase to $8,261,958 - for a projected 27.3% increase in property taxes!
"Deficit" in Jewel’s accounting terms, means running out of cash in
the account from which the City's Business Administrator or Chief Financial Officer are writing checks.
"Deficit", as understood by taxpayers, is the additional amount of
money taken by the City out of the bank account from they write their checks.
Yes, the City must introduce a “balance budget” by law. Business Administrator,
Jewel Thompson-Chin, however, is hiding the fact that the City must raise
property taxes in order to “balance” the budget. The Mayor’s budget proposal
shows expenditures by the city will exceed revenues by at least $5.65 million,
an 18.6% tax increase.
It is time to take the City’s checkbook and access to
Bruce Meyer,
Chairman, Citizens Budget Advisory Committee